Kris Versteeg and the Florida Panthers might not be the best-kept secret in the NHL much longer.

Versteeg’s hat trick (plus an assist) gives him a resounding 17 points on the season while his new team just vaulted over the Washington Capitals for the top spot in the Southeast Division.*

That’s a pretty stunning development since: 1) Versteeg has been traded four times in his career and three times since June 30, 2010 and 2) the Panthers took this division lead on Nov. 10, 2011. (Sure, anytime between 2013 and 2015 sounds about right, but now?)

The Dallas Stars and their rookie head coach Glen Gulutzan are getting a lot of press for their hot start – and rightfully so – but what bout the job that Kevin Dineen is doing? Going into the season, it seemed like he had a misshapen roster with a glorified backup as his starting goalie, yet it’s all falling into place so far.

There are plenty of reasons why the Panthers could falter. The Washington Capitals won’t just fade away, Florida will face the second heaviest travel schedule in the NHL and they might just run out of magic. Even so, you’d have to be a true cynic not to tip your cap to Dineen, Versteeg, Dale Tallon and the rest of the Panthers for what they’re accomplishing right now.

* – The Panthers have eight wins and 19 points in 15 games while the Capitals have nine wins and 18 points in 13 GP, so it might not last long … but still.

The hockey world tends to focus on the most regrettable contracts rather than the best ones because let’s face it: it’s more enjoyable to make fun of Brian Campbell‘s deal than to linger on Dustin Brown‘s bargain contract. That being said, clever GMs deserve credit for either finding the right timing to sign a player, judging their value better than most or simply fostering a climate in which a player will take a pay cut. This series of posts will take a look at every team to see which (if any) players deserve to be called bargains.

Notes: entry-level deals don’t count because they have built-in maximum levels. “Loophole” contracts will be considered, but they won’t receive as much consideration because of their inherent salary cap dishonesty. Bought out players will be considered for their current cap hits. I also think $6 million is a reasonable – if arbitrary – cutoff point for a true bargain player.

Carolina Hurricanes – The Canes could have made the playoffs last year but got smeared by the Lightning in that deciding game.

Jussi Jokinen ($3M) – Jokinen was once a glorified shootout genius, but he’s been a valuable contributor for Carolina lately. His new contract seems like a solid deal for the Canes.

Alexei Ponikarovsky ($1.5M) – I’m not very high on Ponikarovsky, to be honest. That being said, he’s a four-time 20+ goal scorer entering an attacking system that could play to his strengths. It’s a low-risk, medium-reward deal.

Florida Panthers – Their hearts were in the right place, but the Panthers gave out funny money to a lot of unproven players this off-season.

Stephen Weiss ($3.1M) – Naturally, the best deal – and maybe Florida’s best player – involves a guy who’s been there for a long time.

Mike Santorelli ($1.6M) – He scored 20 goals last season, so his contract could be nice. Of course, it all depends on how he fits in with the many new pieces, though.

Honorable mention: If Jose Theodore proves me wrong and ends up being an above average NHL starter, then the Panthers found one at a cheap rate.

Tampa Bay Lightning – The Bolts lost a couple of players who helped them during their playoff run, but kept many of the big ones, so it’s reasonable to expect another nice season.

Martin St. Louis ($5.63M) – While the Lightning’s fortunes have resembled a roller coaster ride since they won a Stanley Cup, St. Louis steadily puts together great work year after year. He also does it at a great price.

Steve Downie ($1.85M) – Sure, his penchant for bad hits makes him a polarizing figure, but few players as violent as Downie also have as much offensive upside.

Dominic Moore ($1.1M) – A nice defensive player with a touch of offensive ability, Moore brings enough to the table that his contract is a solid steal.

Washington Capitals – Could this be the year for the Caps? Bruce Boudreau certainly hopes so.

Mike Knuble ($2M) – Knuble plays a responsible game and scores dirty goals in bunches; he just finished his eighth consecutive season with at least 20 tallies.

Karl Alzner ($1.3M) – Alzner took an absurdly cheap deal and ranks as one half of the team’s promising young shutdown line. What’s not to like?

Tomas Vokoun ($1.5M) – It’s embarrassing that only two GMs were reportedly in the running for one of the league’s most consistently statistically excellent goalies. The best part for the Capitals is that they have at least one other netminder who can carry the load if Vokoun doesn’t work out for whatever reason. Either way, Vokoun is easily the bargain of 2011 free agency.

Honorable mention: Nicklas Backstrom is getting paid too much to be a true bargain, but if he bounces back with Alex Ovechkin as expected, he’ll go back to being a great bang for the buck center.

Winnipeg Jets – The remodeled Thrashers won’t spend a whole lot of money next season, so do they have some bargains on their roster?

Eric Fehr ($2.2M) – Health is a concern with the large winger, but he could be the next Andrew Ladd.

Tobias Enstrom ($3.75M) – Enstrom quietly produces a lot of points; he passed the 50-point mark in two straight seasons.

Ondrej Pavelec ($1.15M) – Pavelec bounced back in an impressive way after his scary fainting spell and then tapered off toward the end of the season. Still, he put up a .914 save percentage overall, which is pretty good for a starter getting paid such a small amount. This season might determine if he’s the goalie of the future for the Jets.

***

Feel free to point out any glaring omissions or faulty inclusions. Again, remember: players on their entry-level deals don’t count, so that’s why you won’t see the Jeff Skinners of the world.

Thoughts: The Capitals are one of the hottest teams in the NHL right now, there’s no doubt about that. Even with a five-point lead in the Southeast Division, they can’t rest on their laurels. Tuesday’s game against the Canadiens begins a six-game road trip that should test Washington’s growing case as a Cup contender.

Thoughts: If I had to wager on the Capitals or Lightning, I’d probably have to go with Washington. Tampa Bay would improve their odds if they closed the gap to three points with 12 games to go if they beat the Maple Leafs tonight. Still, with eight of their last 13 contests away from home, it might be a bit much to ask.

Thoughts: It’s probably true that every remaining game is at least somewhat big for the Canes, but the next two are still substantial, as they take on bubble teams on Tuesday and Wednesday. Cam Ward, Eric Staal & Co. actually play the Sabres two more times counting Tuesday’s big road contest, so they could conceivably close the gap in a vacuum if they won both of those games in regulation.

Thoughts: This week might just be a “fork in the road” moment for the puzzling Thrashers. All three of these contests could be defeats, but if they make an impressive showing, that will reveal their legitimacy in the home stretch. It’s tough to fault anyone who has been questioning their playoff credibility since New Year’s, though.

Thoughts: The Panthers have been solid in the first four games in their seven-game homestand (2-1-1), but solid wasn’t what they needed to make a last minute surge into the playoff picture. Instead, they leave their fans with yet another purgatory season in which they’re not good enough to make the postseason but not bad enough to get a great draft pick. Unless they start tanking right now, that is.

Thoughts: In all the times we’ve published Southeast Division Watch posts, this is the first time that the Capitals are atop the division. Of course, that could change in tonight’s huge game in Tampa Bay. That’s not to say today is the only important one, as they face playoff desperate teams in Carolina and then Chicago next week.

2. Tampa Bay Lightning (37-21-7 for 81 pts; 65 GP)

Current streak: Three losses in a row.

Week ahead: Three home games – vs. Washington (Mon), Chicago (Wed) and Ottawa (Fri) plus a road game against Florida (Sat).

Thoughts: Again, the biggest game for both the Lightning and Capitals is tonight, but the match against the Blackhawks is big too. Tampa Bay still has an excellent chance to win the Southeast, but they need to turn around their recent slump.

Thoughts: The Canes earned a big overtime win against Buffalo last week, but that only gave them an extra point against the hard charging Sabres. They’re now one point behind Buffalo, with one less game remaining. To keep this a two-horse race for the eighth place spot, they need to win against the Thrashers on Wednesday.

Thoughts: It might already be too late, but if not, this will be a big week for the Thrashers to prove themselves as still viable. In the next two weeks, they play against Carolina and Buffalo once plus the Devils and Flyers on two occasions. The way things are going, it probably won’t work out, but they can make an impact on their situation in the next 14 days or so.

Thoughts: If you’re questioning the decision to put the Panthers in italics, try this on for size: they haven’t earned a regulation win in their last 12 games. The Panthers play their next six games in Sunrise, so maybe they can move them back into the convoluted Eastern Conference playoff bubble again after two weeks. So we’ll just have to wait and see.

Thoughts: The Lightning have five more points, four more wins and one game in hand against the Capitals for the division lead. Still, they just recently finished the carbo-loading part of their schedule; now it’s time for the final leg of the marathon to the playoffs. Can they outlast Washington?

2. Washington Capitals (33-20-10 for 76 pts; 63 GP)

Current streak: One win.

Week ahead: Home against Islanders (Tues), St. Louis (Thurs) and @ Florida (Sun).

Thoughts: This will be a nice opportunity for the Capitals to earn some relatively easy points, which is good, because they have a treacherous six-game road trip coming up in mid-March.

Thoughts: The Canes can push the Panthers’ playoff dreams closer to the grave, then play a huge game at home against the ninth-place Sabres before they visit the red-hot Blackhawks. No cakewalks this week, unless Florida trades all their veterans for picks.

Thoughts: The Thrashers need to have a good week, because their schedule gets awfully rocky to finish the season. After they conclude their five-game homestand against the Panthers, they’ll play three of four and five of seven on the road. There’s also another five-game road trip remaining on their schedule. Overall, they play 10 of 16 away from Atlanta after Saturday’s game against Florida. They might end up a few strides short of being one of the feel-good stories of the 2010-11 season.

Thoughts: If the Panthers can scrap together enough points to still be playoff-relevant on Sunday, they feature possibly the league’s oddest March schedule. Starting with that game against the Capitals, they will have a seven-game homestand followed by a five-game road trip. They might be the odds-on favorite to be next month’s streakiest team, then.